Tuesday, January 23, 2007

*as with any entry below/above a previous high/low (in the case of my charts, the opening range (OR) high/low), you need to watch for resistance/support as price approaches those levels. If it stalls, you want to exit. If it breaks through, the odds are good you will have a move to the corresponding Fibonacci extension.

Socal - not necessarily. But it is hard to say when I would and would not exit early - it is more feel than anything. I liked the action in CFHI as it drifted sideways but down - and was below the OR low. I felt confident it would break...

DISCLAIMER - I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES; I JUST POST MY THOUGHTS, TRADES, AND OPINIONS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS. ALL CHARTS ARE COURTESY OF REALTICK. ALL TIMES INDICATED ARE NY (EST).